praveen

I suppose it is almost 4 trillion $.

I found it

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LONDON: While liquidity in most asset markets has dried up to some extent in the wake of the global credit crisis, currency market volume is flourishing and average daily turnover could hit a record $4 trillion this year, industry experts say.

Foreign exchange has been a bright spot in asset classes even during the credit crisis, due to increasing pools of liquidity, a panel of FX industry specialists told a forum in London on Tuesday.

Justyn Trenner, CEO of industry consultancy ClientKnowledge, said daily FX turnover had the capacity to burst through the $3.2 trillion-a-day mark reported in the the last Bank for International Settlements survey for 2007. He said there was every reason FX turnover will carry on growing as banks become more efficient and adopt new technology.

"Turnover could be heading for the $4 trillion mark or through it this year," he told reporters on the sidelines of the Euromoney FX forum.

Andrew Durrant, head of EMEA FX sales at the Chicago Mercantile Exchange, said not only were more clients were coming into the market to trade currencies but they were trading bigger volumes.

Senior dealers said that even as the credit crisis tightened its grip on interbank lending, large institutional customers had benefited from a general trend towards electronic trading.

"The markets are big enough now for there to be more pools of liquidity. More venues have been able to provide liquidity in the market than ever before. It's a rising tide," said Mark Warms, General Manager, EMEA of online platform FXall.